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European Edition
27th November 2025
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THE HOT STORY

Allianz signals job cuts in AI shift

German insurance giant Allianz has announced potential job cuts due to its integration of artificial intelligence. The company’s subsidiary, Allianz Partners, indicated that up to 1,800 roles, primarily in call centres, could be eliminated over the next 12 to 18 months. This represents about 8% of its 22,600 employees across Germany, France, Spain, and Britain. Allianz Partners said it is "leveraging AI" to enhance services, which may affect positions reliant on manual processes. Discussions with staff representatives are still in early stages, according to sources.
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WORKFORCE

Swatch workers in Türkiye end strike

Workers at Swatch stores in Türkiye have ended a two-week strike after securing significant pay increases and improved working conditions. The local union, Koop-IÅŸ, reported that the workers sought a pay deal reflecting the nearly 33% inflation rate in Türkiye. They were dissatisfied with Swatch's initial offer of a 25% pay rise for shop workers and smaller increases for office staff. Eyup Alemdar, Chairperson of Koop-IÅŸ, said: "The struggle was never a lonely one. We stood shoulder to shoulder until our members got what they deserved." The exact wage increase details were not disclosed.

EssilorLuxottica workers strike for improved pay

EssilorLuxottica's workers in France are planning a three-day strike later this week, calling for improved wages. The FO Metaux union said the nationwide strike, due to begin on Thursday, marks the first time all union organisations are coordinating action across all EssilorLuxottica entities.
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LEGAL

Greece signs historic social collective labour agreements

The Greek government has signed a landmark social agreement with national social partners to enhance Collective Labour Agreements (CLAs). Labour and Social Security Minister Niki Kerameus described it as a historic accord that provides stability and security for workers and employers. The agreement lowers the threshold for CLA coverage from 50% to 40% and restores full protection for workers after a CLA expires. It aims to create a more predictable labour market and improve wage conditions. Kerameus said: "This agreement proves that through dialogue we can reach solutions that benefit workers, employers, and society as a whole." The implementation plan will be published in December.
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RISK

OBR apologises over pre-Budget leak

The UK's Office for Budget Responsibility (OBR) has apologised for mistakenly publishing its economic forecast ahead of the Budget. A "technical error" meant details were released in full about 40 minutes before finance minister Rachel Reeves got to her feet in the House of Commons to deliver her policies, instead of afterwards as intended. A Whitehall insider said the mistake was most probably down to human error. “Quite possibly by someone quite junior . . . no doubt in the middle of the worst day of their working life.” OBR chair Richard Hughes has personally apologised "for the error," telling broadcasters "I will take action later to make sure it doesn't happen again."
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STRATEGY

Continental plans potential job cuts at ContiTech

Continental is weighing another round of restructuring measures at its ContiTech rubber and plastics division. A works council source has said that up to 1,500 additional jobs could be cut. The German automotive supplier had previously announced plans to save €150m annually from 2028 at ContiTech, which it aims to sell next year to focus solely on its core tyres business. 
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WORKPLACE

UK's Tesco under fire for staff suspension

UK supermarket group Tesco has come under fire from pro-Palestine activists after suspending a worker who refused to handle Israeli products. The boycott, divestment and sanctions (BDS) movement has called for the retailer to reverse its decision, saying the worker now "faces disciplinary action for having a conscience." A petition with over 1,700 signatures demands that Tesco withdraw the threat against the anonymous staff member. The incident follows protests outside Tesco stores, as campaigners express solidarity with workers who refuse to handle Israeli goods.
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TECHNOLOGY

OpenAI forecasts 220 million paying ChatGPT users by 2030

OpenAI has forecast that at least 220 million of ChatGPT's weekly users will pay for a subscription by 2030. The artificial intelligence firm said that by 2030, 8.5% of an estimated 2.6 billion weekly users, or around 220 million people, will subscribe to its chatbot. OpenAI also said it expects to generate about 20% of its revenue from new products such as shopping- and advertising-driven features, and has this week introduced a personal shopping assistant for ChatGPT.
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INTERNATIONAL

Trade deal with Taiwan could help train US workers

The Trump administration is negotiating a trade deal with Taiwan that aims to enhance US semiconductor manufacturing through investment and workforce training, according to sources. Taiwanese companies, including TSMC, are expected to contribute capital and skilled workers to expand their US operations. Currently, Taiwan's exports to the US face a 20% tariff, which the companies hope to reduce as part of this agreement. The deal's specifics remain uncertain, but it could involve building science park infrastructure in the US. Taiwan's Premier Cho Jung-tai said that the two sides are at the stage of exchanging documents to finalize details.  "Until announced by President Trump, reporting about potential trade deals is speculation," said White House spokesman Kush Desai. 

Saudi Arabia loosens alcohol restrictions

Saudi Arabia is set to open two new alcohol stores, including one for non-Muslim staff at Aramco, as part of ongoing reforms led by Crown Prince Mohammed bin Salman. These outlets, located in Dhahran and Jeddah, mark a significant shift in the Kingdom's approach to alcohol, which has been heavily restricted for decades. The Dhahran store will cater to non-Muslims working for Aramco, while the Jeddah store will serve non-Muslim diplomats. "We do understand that some of the international travellers want to enjoy alcohol when they visit the Saudi destinations but nothing has changed yet", said Saudi Tourism Minister Ahmed Al-Khateeb. The new stores are expected to open in 2026, furthering the Kingdom's efforts to attract tourists and diversify its economy.
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OTHER

Lockdowns linked to child development issues

The largest such study to date, from the University of Edinburgh, suggests that COVID-19 lockdowns significantly impacted child development. Researchers analysed data from 258,000 children aged 13–30 months, finding a 6.6% increase in developmental issues during lockdowns. Dr Iain Hardie, a researcher from the University of Edinburgh, noted that reduced social interaction and limited access to early learning settings likely contributed to this rise. The study, published in The Lancet Regional Health - Europe, indicates that developmental concerns remained elevated even after restrictions ended in August 2021.
 
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